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Germany Luxury Car Companies To Get Tough Fight From Volvo Over Electric Vehicles

Sweden’s automobile company Volvo wants to end the domination of Germany’s companies in the luxury car industry in India. Volvo’s plan is to compete with BMW, Mercedes-Benz, and Audi through its Modern Electric Vehicles.

Germany Luxury Car Companies To Get Tough Fight From Volvo Over Electric Vehicles

Volvo Car is considering bringing only electric vehicles in India by 2019. This step is being taken as per the new target of bringing 40% of new vehicles in the country over the next decade of the central government.

Charles Frump, Managing Director, Volvo Auto India said, “Our intention is to reach the top in e-luxury vehicles. By 2019, every fresh Volvo car will be equipped with the electric transmission, no matter it is hybrid, plug-in-hybrid, mild hybrid or fully electric. It will be according to the Government of India’s plan and its vision for 2030.”

Frump reported that Volvo has a target of selling 10 Million electric vehicles worldwide by 2025. India will have a big contribution in it. He believes that there is a lack of infrastructure for electric vehicles in India, but in spite of this, they expressed the hope of the company’s success.

He said, “One good thing with our electrification strategy is that we have the option of Mild Hybrid, from plug-in-hybrid to full hybrid and electric. We will be ready for whatever decision we have in India.”

The company is considering the possibility of developing local vendor base to keep its prices competitive. Volvo’s short-term plan is to increase the number of vehicles that are assembling in the country. In October this year, Volvo launched the XC90 assembly plant in India. Frump said, “We will do local assembling with cars in our SPA platform. These will include S90, V90 cross country, and XC60.”

The company is also working on launching Global Weeks in India soon. Volvo Auto India aims to double its share in the luxury car segment to 10% by 2020.

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